How Analysts Changed Views on BioMarin After Earnings

Health and Healthcare

Published: February 28, 2016 10:45 am

Last Updated: January 13, 2020 12:36 pm

BioMarin Pharmaceuticals Inc. (NASDAQ: BMRN) reported its fourth-quarter financial results after the markets closed Thursday. Investors really took to this stock and there was a favorable jump after the report. However, analysts took a slightly different perspective and cut their price targets.

The company said it had $0.40 in earnings per share (EPS) on $227.9 million in revenue, which compared to consensus estimates from Thomson Reuters of $0.99 in EPS on revenue of $224.38 million. The same period from last year had a net loss of $0.47 per share on $230.85 million in revenue.

In terms of guidance for 2016, the company expects to have a non-GAP net loss of in the range of $75 million to $100 million, as well as total revenues in the range of $1.05 billion to $1.10 million. The consensus estimates for the full year call for a net loss of $2.27 per share on $1.15 billion in revenue.

A few analysts weighed in on BioMarin after earnings:

JPMorgan has an Overweight rating and lowered its price target to $117 from $121.
Piper Jaffray has an Overweight rating and lowered its price target to $107 from $118.
Jefferies has a Buy rating and lowered its price target from $132 to $120.
RBC has an Outperform rating and lowered its price target to $125 from $155.
Goldman Sachs lowered its price target to $129 from $131.

24/7 Wall St.
Top 4 Biopharma Movers of the Past Week

So far in 2016, BioMarin has underperformed the broad markets, with the stock down 27%. Over the past 52 weeks, the stock fell 28%.

Shares of BioMarin ended last week at $80.14, with a consensus analyst price target of $127.84 and a 52-week trading range of $62.12 to $151.75.

Are You Ahead, or Behind on Retirement? (sponsor)

If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.

Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.

Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.